Typical! The day that President Trump’s choice as chairman of the US Federal Reserve is sworn in, Jerome Powell gets hit with a very serious stock market slump. The Dow Jones Industrial Average closed down 1100 points on the day, a record daily loss, having been off 1500 points earlier. Over in Japan the leading Nikkei 225 index at one point fell a whopping 7.1 per cent (the biggest loss since 1990) and ended today’s session off an equally ugly 4.7 per cent. CNBC reports that experts say that solid economic fundamentals lie below the moves despite the sea of red ink.
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